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The Indonesian Criminal Investigation Agency, in cooperation with the Binance crypto exchange, has identified a suspect in crypto fraud and confiscated $200,000 worth of digital assets.
In November 2023, Indonesia's Criminal Investigation Agency (Bareskrim) opened a fraud case using a fake crypto trading site. Later, law enforcement agencies managed to find out that the site was part of a pig cutting scam scheme. During the investigation, several people were arrested involved in the management of bank accounts and cryptocurrency wallets, which received funds stolen from victims.
After the detained suspects refused to cooperate with Bareskrim in the search for and return of stolen crypto assets, the agency turned to experts from Binance's Financial Intelligence Unit (FIU) for help in tracing the stolen funds.
FIU Binance and its partners from TokoCrypto provided Bareskrim with an in-depth analysis of fraudulent transactions, which led to the blocking of funds worth $200,000 and the detention of another participant in the scam scheme. The seized crypto assets were handed over to law enforcement agencies.
In November 2023, Indonesia's Criminal Investigation Agency (Bareskrim) opened a fraud case using a fake crypto trading site. Later, law enforcement agencies managed to find out that the site was part of a pig cutting scam scheme. During the investigation, several people were arrested involved in the management of bank accounts and cryptocurrency wallets, which received funds stolen from victims.
After the detained suspects refused to cooperate with Bareskrim in the search for and return of stolen crypto assets, the agency turned to experts from Binance's Financial Intelligence Unit (FIU) for help in tracing the stolen funds.
FIU Binance and its partners from TokoCrypto provided Bareskrim with an in-depth analysis of fraudulent transactions, which led to the blocking of funds worth $200,000 and the detention of another participant in the scam scheme. The seized crypto assets were handed over to law enforcement agencies.
